Social Housing (Council)

[Anon Private]

I have viewed a flat in a block and have discovered that some of the flats are designated as social housing. I am wondering if this has any bearing on future value.

 

[diyhelp]

Unfortunately while it is still the same flat whoever your neighbours are, some buyers might refrain from buying a flat next to social housing.

 

[Anon Private]

In my case, the flats that are designated as social housing are not next door, but are in the same block. I believe that this could still deter some purchasers.

 

[Longterminvestor]

I think this would impact the perceived value of the flat you were looking to buy - now and into the future.

 

[Anon Private]

In the large block there are only a few flats that are designated as social housing. I found this out by pure chance via the web.

How much emphasis can I put on the asking price, most likely suggested by an estate agent.

 

[Longterminvestor]

The alternative is that you could make a rock bottom offer - below the list price - and see what they say. They may be having difficulty selling the property so you might be lucky.

 

[Anon Private]

The alternative is that you could make a rock bottom offer - below the list price - and see what they say. They may be having difficulty selling the property so you might be lucky.

I visited the property for a second time yesterday, I met the vendor. He said that there is no social housing in the block. But the web indicates that there is a flat in the block that is designated as 'social'. There seems to be another block up the road which is designated as social. The vendor was not aware of this case. Apparently there is no problem.

 

[diyhelp]

It may not be a big issue if it is just one flat in your block but I would still proceed with caution. It only takes one bad tenant (whether in the social housing flat or otherwise) to cause problems which may or may not impact your property.

 

[nmb]

Did you go ahead with the purchase? From what you say there doesn't seem to be much to worry about.